First Instalment. The first instalment equal to ten percent (10%) of the Contract Price amounting to United States Dollars Three Million Seven Hundred Thousand only (US$3,700,000) shall be due and payable within five (5) banking days from the date of receipt of the original Refund Guarantee as per Exhibit “A” issued by a first Korean bank acceptable to the Buyer and/or Buyer’s bank, by the Buyer. The Refund Guarantee may be issued by means of an authenticated swift message to the Buyer’s nominated bank in which case payment shall be made within five (5) banking days of receipt of such swift message by the Buyer’s bank.
First Instalment. 6.1.1. At any time which is no earlier than 5 Business Days after satisfaction of the Condition Precedents, the Grant Recipient shall be entitled to apply for the payment of the First Instalment of the Grant. In submitting an application pursuant to this Clause 6.1.1 the Grant Recipient is deemed to represent and warrant to the Council that:
i. The Grant Recipient has delivered the First Report;
ii. The Conditions Precedents have been achieved and signed off (or waived by the Council); and
iii. The Grant Recipient has completed the purchase of the site for the construction of the Affordable Housing Units or has completed the purchase of existing dwellings for use as Affordable Housing Units.
First Instalment. The Parties agree unanimously that subject to the performance of the liabilities under Article 12 by the Vendor, the first installment of the Equity Transfer Price, that is USD equivalent of RMB35,000,000 payable hereunder (“First Instalment”) will be paid within 10 Working Days after the execution of this Agreement to an account designated by the Vendor. (A USD account at the Bank of China (Hong Kong) Limited under the names of Xx. Xxx Shenfang and Xx. Xxx Minxuan, of which account number is 01259592044392; A HKD account at the Bank of China (Hong Kong) Limited under the names of Xx. Xxx Shenfang and Xx. Xxx Minxuan, of which account number is 01259510088752)
First Instalment. Five Hundred Fifty Million Japanese Yen (JPY550,000,000.-) shall be due and payable upon the later of (i) the execution of this Contract and the Performance Guarantee relating hereto by all parties; and (ii) the date of delivery of the original letter of Refund Guarantee specified in Article X hereof to the Buyer at its address as set out in Article XVIII.
First Instalment. Ten per cent ( 10 %) of the Contract Price, being Eight Million Four Hundred Thousand U.S. Dollars, (US$ 8,400,000) shall be paid within three Banking Days of the Execution Date. SECOND INSTALMENT: Ten per cent (10 %) of the Contract Price, being Eight Million Four Hundred Thousand U.S. Dollars, (US$ 8,400,000) shall be paid within three Banking Days from receipt by the Purchaser of a telefax notice from the Builder attaching a Stage Certificate in the form of the draft attached as Appendix V, countersigned by an Authorised Representative (or, in default thereof, the Classification Surveyor), certifying that Builder has placed the orders for the major equipment, herein defined as the Main Engines, the Thrusters, and the Electrical Integration Subcontract.
First Instalment. 5 per cent increase in the salaries prescribed for all Employees covered by the Agreement, as set out in Schedule 1 shall be effective from 01/07/2020 (“First Instalment”).
First Instalment. Upon lodgement of the Agreement with the Office of the Employment Advocate (Workplace Authority), a retrospective increase in base rates of 4%, (as per column Rate Increase 1 at Appendix B), will be made from the beginning of the first full pay period in November 2006.
First Instalment. Within 5 Business Days from the date the condition precedent (as described in paragraph (e) above) is fulfilled, Morefit shall pay to SBA RMB45,000,000 (equivalent to approximately HK$42,401,000) (“First Instalment”) comprises RMB15,000,000 (equivalent to approximately HK$14,134,000) being the full consideration for the sale and purchase of the Sale Shares and RMB30,000,000 (equivalent to approximately HK$28,267,000) being part of the consideration for the assignment and transfer of the Shareholder’s Loan.
First Instalment. The first instalment of the Cash Consideration amounting to EUR 250,000 (the “First Instalment”) shall be due and payable by the Buyer to the Seller within seven days as of the date of this Agreement.
First Instalment. (a) The First Instalment shall be an amount equal to $3,000,000 less $1,000,000 which will be held in escrow (“Escrow Amount”) by the Purchaser and released to the Vendor subject to each of the following:
(i) the receipt by the Purchaser of this agreement, the Share Transfer and the resolutions required by clause 5.2(e) executed by the Vendor and the Warrantor in original form (i.e. with original signatures);
(ii) the receipt by the Purchaser of the original Business Contracts, the Records and the Source Code of the Software;
(iii) the receipt by the Purchaser of evidence that all required ASIC forms required to be lodged as a result of the Asset Sale have been lodged;
(iv) the Purchaser’s approval of the Last Accounts (acting at all times reasonably); and
(v) the Escrow Amount will be released progressively (within 5 Business Days) of each of the Business Contracts being novated to the Company based on the maintenance value of such Business Contracts.
(b) The parties agree that all Purchase Price Adjustments (which are usually deducted from the First Instalment) will be deducted from the Escrow Amount and/or Second Instalment and/or the Third Instalment. In the event that the Second Instalment and the Third Instalment are insufficient to deduct the Purchase Price Adjustments from, the Vendor shall immediately pay to the Purchaser any balance due.
